Natixis Advisors LLC Boosts Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Natixis Advisors LLC grew its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 35.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,498,916 shares of the bank’s stock after buying an additional 648,973 shares during the quarter. Natixis Advisors LLC’s holdings in Itaú Unibanco were worth $16,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MQS Management LLC bought a new stake in Itaú Unibanco during the third quarter worth $70,000. Victory Capital Management Inc. increased its position in shares of Itaú Unibanco by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 6,694,591 shares of the bank’s stock valued at $44,519,000 after purchasing an additional 533,714 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Itaú Unibanco by 65.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 44,150 shares of the bank’s stock worth $294,000 after purchasing an additional 17,400 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Itaú Unibanco by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 9,556,375 shares of the bank’s stock worth $63,550,000 after buying an additional 430,582 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Itaú Unibanco during the third quarter valued at about $373,000.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Itaú Unibanco currently has an average rating of “Moderate Buy” and an average price target of $7.50.

Itaú Unibanco Price Performance

NYSE ITUB opened at $5.96 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The company has a market cap of $58.41 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98. Itaú Unibanco Holding S.A. has a 52 week low of $5.62 and a 52 week high of $7.27. The firm’s 50-day simple moving average is $6.32 and its two-hundred day simple moving average is $6.26.

Itaú Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be paid a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s payout ratio is currently 3.85%.

Itaú Unibanco Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.